Activist Plantro Pushes for Board Revamp at Canada’s ISC (1)

Canadian database company Information Services Corp. is facing a fresh challenge from one of its top shareholders, which is pressing for major changes to the board after increasing its stake.

Plantro Ltd., a holding company led by former Dye & Durham Ltd. Chief Executive Officer Matthew Proud, is seeking to reduce the board’s size to seven members from 10, arguing that a leaner structure would improve decision-making, according to a person familiar with the matter.

Proud’s firm has sent the company the names of four people it’s proposing to join the board and will seek a shareholder meeting ...